What to Know About Probate: Estate Planning Basics
Financial Planning for Graduates
You should help your child plan for their financial future, whether they are graduating high school or college. You want to set a strong foundation for long-term financial stability by broadening their scope of financial literacy. Sharing the following tips…
The Basics of Gift Taxes
Aside from receiving gifts, giving them to family and friends can also help you reduce your assets. There is a threshold, however, to how much you can give away in any given year, as well as over your lifetime. Whether…
The Qualified Personal Residence Trust
It is important for people to protect their assets and minimize their beneficiaries' potential tax burdens when planning their estates. The qualified personal residence trust (QPRT) is a valuable tool in this area. This specialized trust enables individuals to transfer…
Having a Will vs. Not Having a Will
There is nothing more uncomfortable than thinking about your own death. Add to that the issue of what will happen to our assets after we pass away, and it's no wonder that so few people have created a will and…
A Do-It-Yourself Estate Plan’s Perils
DIY estate planning may seem like a cost-saving option. However, it can be costly in the end, both financially and in terms of family wellbeing. Estate planning involves important decisions about how your assets will be distributed after you die…
Simple Steps to Living a Longer Life
We are now living longer than previous generations thanks to advances in medicine, technology, and life science. But simply living a longer life should not be the goal. Maintaining a healthy quality of life should be. After all, who wants…
The Estate Planning Process for Young Parents
Even though it is unlikely we will die or become seriously ill or injured while we are young, such an event is still possible. This is why we pay for medical insurance, disability insurance, and life insurance. Even though many…
Planning Your Child’s Future Through a 529 Plan
The cost of higher education is more expensive every year. As a result, families are looking for ways to save for college. One option is a 529 plan. These investment plans allow families to put money away for a child's…